Ackman's Pershing Square Capital Management LP sold its warrants to buy 18.4 million shares of Chicago-based General Growth (NYSE: GGP) to Brookfield (NYSE: BAM), according to a filing Thursday with the U.S. Securities Exchange Commission.

BloombergBusinessweek reports that Pershing Square, General Growth's second-largest investor, also agreed to keep its stake in the mall operator below 10 percent for at least four years. Bloomberg reports Pershing Square now owns 8 percent of the company.

Ackman had asked General Growth's board last summer to consider selling the company to its largest competitor, Simon Property Group Inc. (NYSE: SPG), but the board turned down Ackman's request.

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